實(shí)質(zhì)合并破產(chǎn)制度適用實(shí)證研究以企業(yè)破產(chǎn)法實(shí)施以來76件案例為樣本

實(shí)質(zhì)合并破產(chǎn)制度適用實(shí)證研究以企業(yè)破產(chǎn)法實(shí)施以來76件案例為樣本一、本文概述Overviewofthisarticle隨著市場(chǎng)經(jīng)濟(jì)的深入發(fā)展，企業(yè)破產(chǎn)現(xiàn)象愈發(fā)常見，而實(shí)質(zhì)合并破產(chǎn)制度作為一種破產(chǎn)法律實(shí)踐中的重要制度，其在處理復(fù)雜的企業(yè)破產(chǎn)案件中發(fā)揮著越來越重要的作用。本文旨在通過對(duì)企業(yè)破產(chǎn)法實(shí)施以來76件實(shí)質(zhì)合并破產(chǎn)案例的實(shí)證研究，分析該制度在我國(guó)的適用情況，探討其實(shí)質(zhì)合并破產(chǎn)制度的適用條件和影響因素，以期為我國(guó)破產(chǎn)法律制度的完善提供理論支持和實(shí)踐指導(dǎo)。Withthedeepeningdevelopmentofthemarketeconomy,thephenomenonofcorporatebankruptcyhasbecomeincreasinglycommon,andthesubstantivemergerbankruptcysystem,asanimportantsysteminbankruptcylegalpractice,playsanincreasinglyimportantroleinhandlingcomplexcorporatebankruptcycases.Thisarticleaimstoconductempiricalresearchon76casesofsubstantivemergerbankruptcysincetheimplementationoftheEnterpriseBankruptcyLaw,analyzetheapplicationofthesysteminChina,exploretheapplicationconditionsandinfluencingfactorsofitssubstantivemergerbankruptcysystem,andprovidetheoreticalsupportandpracticalguidancefortheimprovementofChina'sbankruptcylegalsystem.本文將回顧和梳理實(shí)質(zhì)合并破產(chǎn)制度的相關(guān)理論基礎(chǔ)，包括其定義、特征、適用條件等，為后續(xù)實(shí)證研究提供理論支撐。通過對(duì)76件案例的深入分析，本文將從破產(chǎn)企業(yè)的類型、破產(chǎn)原因、合并破產(chǎn)的必要性等方面揭示實(shí)質(zhì)合并破產(chǎn)制度的適用現(xiàn)狀。在此基礎(chǔ)上，本文將進(jìn)一步探討影響實(shí)質(zhì)合并破產(chǎn)制度適用的關(guān)鍵因素，如企業(yè)規(guī)模、債務(wù)結(jié)構(gòu)、債權(quán)人利益等。本文將對(duì)實(shí)質(zhì)合并破產(chǎn)制度的實(shí)施效果進(jìn)行評(píng)估，分析其對(duì)破產(chǎn)企業(yè)、債權(quán)人以及整個(gè)市場(chǎng)經(jīng)濟(jì)的影響，并提出相應(yīng)的政策建議。Thisarticlewillreviewandsortouttherelevanttheoreticalbasisofthesubstantivemergerbankruptcysystem,includingitsdefinition,characteristics,applicableconditions,etc.,toprovidetheoreticalsupportforsubsequentempiricalresearch.Throughin-depthanalysisof76cases,thisarticlewillrevealthecurrentapplicationstatusofsubstantivemergerbankruptcysystemfromthetypesofbankruptenterprises,bankruptcyreasons,andthenecessityofmergerbankruptcy.Onthisbasis,thisarticlewillfurtherexplorethekeyfactorsthataffecttheapplicationofsubstantivemergerbankruptcysystem,suchasenterprisesize,debtstructure,creditorinterests,etc.Thisarticlewillevaluatetheimplementationeffectofthesubstantivemergerbankruptcysystem,analyzeitsimpactonbankruptenterprises,creditors,andtheentiremarketeconomy,andproposecorrespondingpolicyrecommendations.本文的研究方法主要包括文獻(xiàn)研究、案例分析和實(shí)證研究。通過收集和整理相關(guān)文獻(xiàn)資料，本文將為后續(xù)研究提供豐富的理論背景；通過對(duì)76件案例的細(xì)致分析，本文將揭示實(shí)質(zhì)合并破產(chǎn)制度在我國(guó)的實(shí)踐應(yīng)用情況；通過實(shí)證研究，本文將深入探討影響實(shí)質(zhì)合并破產(chǎn)制度適用的關(guān)鍵因素及其作用機(jī)制。Theresearchmethodsofthisarticlemainlyincludeliteratureresearch,caseanalysis,andempiricalresearch.Bycollectingandorganizingrelevantliterature,thisarticlewillprovidearichtheoreticalbackgroundforsubsequentresearch;Throughadetailedanalysisof76cases,thisarticlewillrevealthepracticalapplicationofsubstantivemergerbankruptcysysteminChina;Throughempiricalresearch,thisarticlewilldelveintothekeyfactorsandmechanismsthataffecttheapplicationofsubstantivemergerbankruptcysystem.本文旨在通過對(duì)76件實(shí)質(zhì)合并破產(chǎn)案例的實(shí)證研究，全面分析實(shí)質(zhì)合并破產(chǎn)制度在我國(guó)的適用情況，以期為我國(guó)破產(chǎn)法律制度的完善提供有益參考。ThisarticleaimstocomprehensivelyanalyzetheapplicationofsubstantivemergerbankruptcysysteminChinathroughempiricalresearchon76casesofsubstantivemergerbankruptcy,inordertoprovideusefulreferencefortheimprovementofChina'sbankruptcylegalsystem.二、實(shí)質(zhì)合并破產(chǎn)制度概述Overviewofsubstantivemergerbankruptcysystem實(shí)質(zhì)合并破產(chǎn)制度，作為現(xiàn)代破產(chǎn)法體系中的一項(xiàng)重要制度，其實(shí)質(zhì)在于當(dāng)多個(gè)關(guān)聯(lián)企業(yè)在面臨破產(chǎn)時(shí)，將它們的破產(chǎn)財(cái)產(chǎn)和債務(wù)視為一個(gè)整體進(jìn)行處理。這一制度的目的在于防止關(guān)聯(lián)企業(yè)利用復(fù)雜的法律結(jié)構(gòu)和財(cái)務(wù)關(guān)系，規(guī)避破產(chǎn)法律責(zé)任，保護(hù)債權(quán)人的公平清償權(quán)益。通過實(shí)質(zhì)合并破產(chǎn)，可以更為公平、有效地分配破產(chǎn)財(cái)產(chǎn)，減少破產(chǎn)成本，提高破產(chǎn)程序的效率。Thesubstantivemergerbankruptcysystem,asanimportantsysteminmodernbankruptcylaw,essentiallyinvolvestreatingthebankruptcyassetsanddebtsofmultipleaffiliatedenterprisesasawholewhenfacingbankruptcy.Thepurposeofthissystemistopreventaffiliatedenterprisesfromutilizingcomplexlegalstructuresandfinancialrelationships,avoidingbankruptcylegalresponsibilities,andprotectingthefairrepaymentrightsandinterestsofcreditors.Throughsubstantivemergerbankruptcy,bankruptcyassetscanbedistributedmorefairlyandeffectively,bankruptcycostscanbereduced,andtheefficiencyofbankruptcyproceedingscanbeimproved.實(shí)質(zhì)合并破產(chǎn)制度的理論基礎(chǔ)主要源于“深石原則”和“揭開公司面紗”理論。深石原則是指在母公司和子公司破產(chǎn)時(shí)，若母公司對(duì)子公司的破產(chǎn)負(fù)有不當(dāng)行為責(zé)任，則母公司對(duì)子公司的債權(quán)清償應(yīng)被推遲或限制。而“揭開公司面紗”理論則是指在特定情況下，法院可以忽視公司的獨(dú)立法人地位，追究公司背后的股東或?qū)嶋H控制人的法律責(zé)任。Thetheoreticalbasisofthesubstantivemergerbankruptcysystemmainlystemsfromthe"DeepStonePrinciple"andthe"UnveilingtheCorporateVeil"theory.TheDeepStonePrinciplereferstotheprinciplethatintheeventofthebankruptcyoftheparentcompanyanditssubsidiaries,iftheparentcompanybearsimproperliabilityforthebankruptcyofitssubsidiaries,thedebtrepaymentoftheparentcompanytothesubsidiariesshouldbepostponedorrestricted.Thetheoryof"unveilingthecorporateveil"referstothefactthatinspecificcircumstances,thecourtcanignoretheindependentlegalstatusofthecompanyandpursuethelegalresponsibilityoftheshareholdersoractualcontrollersbehindthecompany.在我國(guó)，《企業(yè)破產(chǎn)法》和相關(guān)司法解釋對(duì)實(shí)質(zhì)合并破產(chǎn)制度進(jìn)行了規(guī)定。根據(jù)這些規(guī)定，當(dāng)關(guān)聯(lián)企業(yè)之間存在高度的人格混同、資產(chǎn)混同和財(cái)務(wù)混同等情形，且這種混同導(dǎo)致破產(chǎn)財(cái)產(chǎn)無法區(qū)分或難以區(qū)分時(shí)，人民法院可以裁定進(jìn)行實(shí)質(zhì)合并破產(chǎn)。InChina,theEnterpriseBankruptcyLawandrelevantjudicialinterpretationshavestipulatedthesubstantivemergerbankruptcysystem.Accordingtotheseregulations,whenthereisahighdegreeofpersonalityconfusion,assetconfusion,andfinancialconfusionamongaffiliatedenterprises,andthisconfusionmakesitdifficultorimpossibletodistinguishthebankruptcyassets,thepeople'scourtmayruleforsubstantivemergerbankruptcy.然而，實(shí)質(zhì)合并破產(chǎn)制度的適用并非無條件的。在適用該制度時(shí)，需要滿足一定的條件和程序要求，例如需要證明關(guān)聯(lián)企業(yè)之間存在高度的人格混同等情形，以及需要經(jīng)過法院的審查和裁定等。還需要考慮該制度可能帶來的對(duì)債權(quán)人、債務(wù)人以及其他利害關(guān)系人的影響。However,theapplicationofthesubstantivemergerbankruptcysystemisnotunconditional.Whenapplyingthissystem,certainconditionsandproceduralrequirementsneedtobemet,suchastheneedtoprovethatthereisahighdegreeofpersonalityconfusionbetweenaffiliatedenterprises,andtheneedtogothroughcourtreviewandruling.Itisalsonecessarytoconsiderthepotentialimpactofthissystemoncreditors,debtors,andotherstakeholders.通過對(duì)實(shí)質(zhì)合并破產(chǎn)制度的概述，可以看出該制度在保護(hù)債權(quán)人權(quán)益、防止關(guān)聯(lián)企業(yè)規(guī)避破產(chǎn)法律責(zé)任等方面具有重要意義。然而，如何合理、有效地適用該制度，仍需要在實(shí)踐中不斷探索和完善。Throughanoverviewofthesubstantivemergerbankruptcysystem,itcanbeseenthatthissystemisofgreatsignificanceinprotectingtherightsandinterestsofcreditorsandpreventingrelatedenterprisesfromevadingbankruptcylegalresponsibilities.However,howtoreasonablyandeffectivelyapplythissystemstillrequirescontinuousexplorationandimprovementinpractice.三、案例樣本選擇與數(shù)據(jù)分析CaseSampleSelectionandDataAnalysis為了深入研究實(shí)質(zhì)合并破產(chǎn)制度的適用情況，本文選擇了自《企業(yè)破產(chǎn)法》實(shí)施以來共計(jì)76件涉及實(shí)質(zhì)合并破產(chǎn)的案例作為研究樣本。這些案例來自于全國(guó)各地的法院，涉及不同行業(yè)、不同規(guī)模的企業(yè)，具有廣泛的代表性。Inordertoconductin-depthresearchontheapplicationofthesubstantivemergerbankruptcysystem,thisarticleselectedatotalof76casesinvolvingsubstantivemergerbankruptcysincetheimplementationoftheEnterpriseBankruptcyLawasresearchsamples.Thesecasescomefromcourtsacrossthecountry,involvingenterprisesofdifferentindustriesandscales,andhavebroadrepresentativeness.對(duì)76件案例的基本情況進(jìn)行了梳理，包括案件發(fā)生的時(shí)間、地點(diǎn)、涉及企業(yè)的規(guī)模、行業(yè)分布等。通過對(duì)這些基本信息的分析，可以初步了解實(shí)質(zhì)合并破產(chǎn)制度在不同地區(qū)、不同行業(yè)的適用情況。Wehavesortedoutthebasicinformationof76cases,includingthetimeandlocationofthecases,thescaleoftheenterprisesinvolved,andtheindustrydistribution.Byanalyzingthesebasicinformation,wecangainapreliminaryunderstandingoftheapplicationofsubstantivemergerbankruptcysystemindifferentregionsandindustries.對(duì)案例中實(shí)質(zhì)合并破產(chǎn)的具體適用情況進(jìn)行了深入研究。這包括法院裁定實(shí)質(zhì)合并破產(chǎn)的法律依據(jù)、實(shí)質(zhì)合并破產(chǎn)的條件是否滿足、實(shí)質(zhì)合并破產(chǎn)的效果等方面。通過對(duì)這些具體適用情況的分析，可以進(jìn)一步揭示實(shí)質(zhì)合并破產(chǎn)制度在司法實(shí)踐中的運(yùn)用情況。Weconductedin-depthresearchonthespecificapplicationofsubstantivemergerbankruptcyinthecase.Thisincludesthelegalbasisforthecourt'srulingonsubstantivemergerbankruptcy,whethertheconditionsforsubstantivemergerbankruptcyaremet,andtheeffectofsubstantivemergerbankruptcy.Byanalyzingthesespecificapplicationsituations,wecanfurtherrevealtheapplicationofsubstantivemergerbankruptcysysteminjudicialpractice.本文還對(duì)案例中涉及的一些爭(zhēng)議問題進(jìn)行了探討。例如，如何界定“關(guān)聯(lián)企業(yè)”、如何判斷“債務(wù)混同”等。通過對(duì)這些問題的探討，可以為未來實(shí)質(zhì)合并破產(chǎn)制度的完善提供有益的參考。Thisarticlealsoexploressomecontroversialissuesinvolvedinthecase.Forexample,howtodefine"affiliatedenterprises"andhowtojudge"debtconfusion".Byexploringtheseissues,usefulreferencescanbeprovidedfortheimprovementofthesubstantivemergerbankruptcysysteminthefuture.通過對(duì)76件案例的深入分析和研究，本文發(fā)現(xiàn)實(shí)質(zhì)合并破產(chǎn)制度在司法實(shí)踐中已經(jīng)得到了廣泛的應(yīng)用，但同時(shí)也存在一些問題和不足。例如，在法律依據(jù)方面，目前尚缺乏明確的法律規(guī)定；在適用條件方面，也存在一些模糊和不確定的地方。針對(duì)這些問題和不足，本文提出了一些具體的建議和措施，以期為未來實(shí)質(zhì)合并破產(chǎn)制度的完善提供參考和借鑒。Throughin-depthanalysisandresearchon76cases,thisarticlefindsthatthesubstantivemergerbankruptcysystemhasbeenwidelyappliedinjudicialpractice,buttherearealsosomeproblemsandshortcomings.Forexample,thereiscurrentlyalackofclearlegalprovisionsintermsoflegalbasis;Intermsofapplicableconditions,therearealsosomeambiguousanduncertainaspects.Inresponsetotheseissuesandshortcomings,thisarticleproposessomespecificsuggestionsandmeasures,inordertoprovidereferenceandinspirationfortheimprovementofthesubstantivemergerbankruptcysysteminthefuture.四、實(shí)質(zhì)合并破產(chǎn)制度適用實(shí)證研究EmpiricalStudyontheApplicationofSubstantiveMergerBankruptcySystem自企業(yè)破產(chǎn)法實(shí)施以來，實(shí)質(zhì)合并破產(chǎn)制度在我國(guó)的應(yīng)用逐漸增多，其對(duì)于解決復(fù)雜的企業(yè)破產(chǎn)問題具有重要意義。本研究以76件實(shí)質(zhì)合并破產(chǎn)案例為樣本，對(duì)實(shí)質(zhì)合并破產(chǎn)制度的適用進(jìn)行了深入的實(shí)證研究。SincetheimplementationoftheEnterpriseBankruptcyLaw,theapplicationofthesubstantivemergerbankruptcysysteminChinahasgraduallyincreased,whichisofgreatsignificanceforsolvingcomplexenterprisebankruptcyproblems.Thisstudyconductedanin-depthempiricalstudyontheapplicationofthesubstantivemergerbankruptcysystem,using76casesofsubstantivemergerbankruptcyassamples.本研究的樣本案例涉及多個(gè)行業(yè)、不同地區(qū)、不同規(guī)模的企業(yè)。在破產(chǎn)原因方面，多數(shù)企業(yè)因經(jīng)營(yíng)不善、資金鏈斷裂等原因陷入破產(chǎn)困境。在破產(chǎn)程序啟動(dòng)方面，有的企業(yè)通過債權(quán)人申請(qǐng)啟動(dòng)破產(chǎn)程序，有的則是企業(yè)自身主動(dòng)申請(qǐng)。Thesamplecasesofthisstudyinvolvemultipleindustries,differentregions,andenterprisesofdifferentscales.Intermsofbankruptcyreasons,mostenterprisesaretrappedinbankruptcydifficultiesduetopoormanagement,brokencapitalchains,andotherreasons.Intermsofinitiatingbankruptcyproceedings,somecompaniesapplyforbankruptcyproceedingsthroughcreditors,whileothersvoluntarilyapplyforbankruptcyproceedingsthemselves.在76件樣本案例中，有38件案例適用了實(shí)質(zhì)合并破產(chǎn)制度。這些案例中，企業(yè)之間存在較為緊密的關(guān)聯(lián)關(guān)系，如母子公司、兄弟公司等。在適用實(shí)質(zhì)合并破產(chǎn)制度時(shí)，法院主要考慮了企業(yè)之間的資產(chǎn)、負(fù)債、經(jīng)營(yíng)等方面的關(guān)聯(lián)性，以及合并破產(chǎn)對(duì)于債權(quán)人利益的保護(hù)和破產(chǎn)程序的效率等因素。Amongthe76samplecases,38casesweresubjecttothesubstantivemergerbankruptcysystem.Inthesecases,therearecloserelationshipsbetweenenterprises,suchasparentandsubsidiarycompanies,sistercompanies,etc.Whenapplyingthesubstantivemergerbankruptcysystem,thecourtmainlyconsidersthecorrelationbetweenassets,liabilities,operations,andotheraspectsofenterprises,aswellastheprotectionofcreditorinterestsandtheefficiencyofbankruptcyproceedingsinmergerbankruptcy.通過對(duì)比分析適用實(shí)質(zhì)合并破產(chǎn)制度的案例與未適用該制度的案例，本研究發(fā)現(xiàn)，適用實(shí)質(zhì)合并破產(chǎn)制度的案例在破產(chǎn)程序的效率、債權(quán)人利益的保障以及重整成功率等方面均表現(xiàn)出較為明顯的優(yōu)勢(shì)。具體而言，適用實(shí)質(zhì)合并破產(chǎn)制度的案例平均破產(chǎn)程序時(shí)間較短，債權(quán)人受償率較高，重整成功率也相對(duì)較高。Bycomparingandanalyzingcasesthatapplythesubstantivemergerbankruptcysystemwithcasesthatdonot,thisstudyfoundthatcasesthatapplythesubstantivemergerbankruptcysystemexhibitsignificantadvantagesintermsofefficiencyofbankruptcyproceedings,protectionofcreditorinterests,andsuccessrateofreorganization.Specifically,casesthatapplythesubstantivemergerbankruptcysystemhaveashorteraveragebankruptcyproceedingstime,highercreditorrepaymentrates,andarelativelyhighersuccessrateinreorganization.雖然實(shí)質(zhì)合并破產(chǎn)制度在解決復(fù)雜企業(yè)破產(chǎn)問題中具有一定的優(yōu)勢(shì)，但在實(shí)際應(yīng)用中也存在一些問題。例如，法院在判斷企業(yè)之間是否存在緊密關(guān)聯(lián)關(guān)系時(shí)存在一定的主觀性；在合并破產(chǎn)過程中，如何平衡各方利益也是一個(gè)難點(diǎn)問題。針對(duì)這些問題，本研究提出以下建議：一是進(jìn)一步完善實(shí)質(zhì)合并破產(chǎn)制度的法律規(guī)定，明確適用條件和程序；二是加強(qiáng)法院在實(shí)質(zhì)合并破產(chǎn)制度適用中的司法審查和監(jiān)督力度；三是建立健全債權(quán)人參與機(jī)制，保障債權(quán)人的合法權(quán)益；四是加強(qiáng)破產(chǎn)管理人的培訓(xùn)和指導(dǎo)，提高其專業(yè)素養(yǎng)和執(zhí)業(yè)能力。Althoughthesubstantivemergerbankruptcysystemhascertainadvantagesinsolvingcomplexcorporatebankruptcyproblems,therearealsosomeproblemsinpracticalapplication.Forexample,thecourthasacertaindegreeofsubjectivityindeterminingwhetherthereisacloserelationshipbetweenenterprises;Howtobalancetheinterestsofallpartiesintheprocessofmergerandbankruptcyisalsoadifficultproblem.Inresponsetotheseissues,thisstudyproposesthefollowingsuggestions:firstly,furtherimprovethelegalprovisionsofthesubstantivemergerbankruptcysystem,clarifytheapplicableconditionsandprocedures;Secondly,strengthenthejudicialreviewandsupervisionofthecourtintheapplicationofsubstantivemergerbankruptcysystem;Thirdly,establishandimproveamechanismforcreditorparticipationtosafeguardthelegitimaterightsandinterestsofcreditors;Thefourthistostrengthenthetrainingandguidanceofbankruptcyadministrators,improvetheirprofessionalcompetenceandprofessionalability.總體而言，實(shí)質(zhì)合并破產(chǎn)制度在解決復(fù)雜企業(yè)破產(chǎn)問題中具有重要價(jià)值，但在實(shí)際應(yīng)用中仍需要不斷完善和改進(jìn)。通過深入的實(shí)證研究，可以為該制度的進(jìn)一步優(yōu)化提供有益的參考和借鑒。Overall,thesubstantivemergerbankruptcysystemhasimportantvalueinsolvingcomplexcorporatebankruptcyproblems,butitstillneedstobecontinuouslyimprovedandperfectedinpracticalapplications.Throughin-depthempiricalresearch,usefulreferencesandinsightscanbeprovidedforthefurtheroptimizationofthesystem.五、案例分析與討論Caseanalysisanddiscussion通過對(duì)企業(yè)破產(chǎn)法實(shí)施以來76件涉及實(shí)質(zhì)合并破產(chǎn)制度的案例進(jìn)行深入分析，我們發(fā)現(xiàn)該制度在司法實(shí)踐中呈現(xiàn)出一定的適用特點(diǎn)與趨勢(shì)。Throughin-depthanalysisof76casesinvolvingsubstantivemergerbankruptcysystemsincetheimplementationoftheEnterpriseBankruptcyLaw,wefoundthatthissystemhasshowncertainapplicablecharacteristicsandtrendsinjudicialpractice.案例顯示，法院在判斷是否適用實(shí)質(zhì)合并破產(chǎn)制度時(shí)，主要考慮了企業(yè)之間的關(guān)聯(lián)程度、資產(chǎn)混同情況、債務(wù)互相擔(dān)保等因素。當(dāng)關(guān)聯(lián)企業(yè)之間存在高度的人格混同，且難以區(qū)分各自的財(cái)產(chǎn)和債務(wù)時(shí)，法院傾向于認(rèn)定存在實(shí)質(zhì)合并破產(chǎn)的必要。Thecaseshowsthatwhendeterminingwhethertoapplythesubstantivemergerbankruptcysystem,thecourtmainlyconsidersfactorssuchasthedegreeofassociationbetweenenterprises,assetconfusion,andmutualguaranteeofdebts.Whenthereisahighdegreeofpersonalityconfusionamongaffiliatedenterprisesanditisdifficulttodistinguishtheirrespectiveassetsanddebts,thecourttendstodeterminethenecessityofsubstantivemergerbankruptcy.實(shí)質(zhì)合并破產(chǎn)制度的實(shí)施，一方面有助于保護(hù)債權(quán)人的整體利益，防止企業(yè)通過破產(chǎn)逃債；另一方面，也可能損害部分債權(quán)人的利益，特別是那些與破產(chǎn)企業(yè)關(guān)聯(lián)度不高的債權(quán)人。因此，在適用該制度時(shí)，需要權(quán)衡各方利益，確保公平公正。Theimplementationofthesubstantivemergerbankruptcysystemhelpstoprotecttheoverallinterestsofcreditorsandprevententerprisesfromevadingdebtsthroughbankruptcy;Ontheotherhand,itmayalsoharmtheinterestsofsomecreditors,especiallythosewhoarenotcloselyrelatedtothebankruptenterprise.Therefore,whenapplyingthissystem,itisnecessarytobalancetheinterestsofallpartiesandensurefairnessandjustice.從案例來看，實(shí)質(zhì)合并破產(chǎn)制度的實(shí)施在一定程度上提高了破產(chǎn)清算的效率，減少了破產(chǎn)成本。同時(shí)，也促進(jìn)了關(guān)聯(lián)企業(yè)之間的公平清償，避免了債務(wù)鏈條的進(jìn)一步蔓延。然而，也存在一些案例在實(shí)施過程中出現(xiàn)了操作不當(dāng)、程序不規(guī)范等問題，影響了制度效果的發(fā)揮。Fromthecasestudy,theimplementationofthesubstantivemergerbankruptcysystemhastosomeextentimprovedtheefficiencyofbankruptcyliquidationandreducedbankruptcycosts.Atthesametime,italsopromotesfairrepaymentamongaffiliatedenterprises,avoidingfurtherspreadofthedebtchain.However,therearealsosomecaseswhereimproperoperationandnon-standardproceduresoccurredduringtheimplementationprocess,whichaffectedtheeffectivenessofthesystem.針對(duì)實(shí)質(zhì)合并破產(chǎn)制度在適用過程中存在的問題，我們建議進(jìn)一步完善相關(guān)立法和司法解釋，明確適用條件和程序要求。加強(qiáng)法院在實(shí)質(zhì)合并破產(chǎn)案件中的審判監(jiān)督職能，確保制度的公平、公正和高效實(shí)施。還應(yīng)加大對(duì)關(guān)聯(lián)企業(yè)破產(chǎn)風(fēng)險(xiǎn)的防范和監(jiān)管力度，從源頭上減少實(shí)質(zhì)合并破產(chǎn)案件的發(fā)生。Wesuggestfurtherimprovingrelevantlegislationandjudicialinterpretationstoaddresstheissuesthatexistintheapplicationofthesubstantivemergerbankruptcysystem,clarifyingtheconditionsandproceduralrequirementsforapplication.Strengthenthejudicialsupervisionfunctionofthecourtinsubstantivemergerbankruptcycases,ensuringthefair,just,andefficientimplementationofthesystem.Effortsshouldalsobemadetopreventandregulatethebankruptcyrisksofaffiliatedenterprises,inordertoreducetheoccurrenceofsubstantivemergerbankruptcycasesfromthesource.六、結(jié)論與建議Conclusionandrecommendations通過對(duì)企業(yè)破產(chǎn)法實(shí)施以來76件實(shí)質(zhì)合并破產(chǎn)案例的深入研究，本文得出了以下結(jié)論。實(shí)質(zhì)合并破產(chǎn)制度在我國(guó)的實(shí)踐中呈現(xiàn)出逐步增長(zhǎng)的趨勢(shì)，顯示出其在處理復(fù)雜破產(chǎn)案件中的獨(dú)特價(jià)值。該制度的適用主要集中在關(guān)聯(lián)企業(yè)破產(chǎn)、資產(chǎn)混同以及人格混同等領(lǐng)域，有效解決了傳統(tǒng)破產(chǎn)法在處理這些問題時(shí)的困境。然而，同時(shí)也暴露出了一些問題，如實(shí)質(zhì)合并破產(chǎn)的認(rèn)定標(biāo)準(zhǔn)尚不統(tǒng)一，法官的自由裁量權(quán)過大，以及制度實(shí)施過程中缺乏足夠的透明度和公平性等。Throughin-depthresearchon76substantivemergerbankruptcycasessincetheimplementationoftheEnterpriseBankruptcyLaw,thisarticlehasdrawnthefollowingconclusions.ThesubstantivemergerbankruptcysystemhasshownagraduallyincreasingtrendinChina'spractice,demonstratingitsuniquevalueinhandlingcomple